Archive for April, 2009
Importance of Vision and Mission in a Business Plan
Saturday, April 11th, 2009 | Business Plan | Comments Off
When you construct a business plan a vision and mission should be integrated into it. There are many reasons for this. It shows the lender that you have a solid strategy in place, it is a promise to the customer, and it tells the staff what it is that you intend to provide and gives them something to work toward.
A vision and a mission are statements about the company’s objectives and their intentions. These statements are usually designed to customers and may say something to the effect that the company puts the customer first in everything they do etc. Every company should have a vision and a mission. Even if you sell products like artificial Christmas trees and lighted palm trees you have to have this. That is because customers want to see what your goals are and what they mean to you. So even though you sell prelit Christmas trees think about the vision and the mission of the company and what promise it is that you make to the customers.
When you build a business plan if you are asking for money or just laying out a project plan for a new endeavor it is important to start with the company mission and vision. This is because it shows that you have a strategy or an end goal in place that the project will achieve when it is completed. It is a solid way of thinking that you will follow throughout the entire plan and gives everyone a baseline of achievement. A lender wants to see what your core beliefs are in an organization. Your vision and mission may be internally described to the employees to treat them well. Whatever your mission and vision is you need to have it inside of your business plan for the lender or prospective investor.
A vision and mission is a promise to your customers and your targeted audience. If you provide pest control services and you target an audience that has issues with pests then your statements should be directed to these people. It should be a promise to the customer to provide top quality service with the customer and tell them that their satisfaction always comes first. When you create these statements and you stand behind them then you build credibility with the customers and begin to build your brand.
Staff members must be clear on what the vision and mission of a company they work for is at all times. Without knowing the ultimate goal they are working toward causes confusion and misguide employees. You want everyone to be aware and to believe in the company vision an mission to have the ability to achieve the goals of them.
Vision and mission statements are extremely important in a business plan when you are talking to lenders or investors and trying to get financing. These statements show the prospective lenders that you have a strategic plan in place and your business works toward making it happen. It shows them that you make promises to the customers and are dedicated about following through and the staff has a clear understanding of the direction the company is headed.
Article source: http://www.ozodo.com/blog/importance-of-vision-and-mission-in-a-business-plan/